We have live virtual trading services for Equity, Futures and Options from NSE (NSE Paathshaala) and even ICICIDirect provides a virtual trading platform for traders to back-test their strategies

I looked around a lot in Google, and did not find any useful service in top searches ...

Finally i found one, which does offer commodity virtual trade with a budget of 50 Lakhs, with trading in Metal and Energy based commodities

Commodity Trading Game: India's First Online Commodity Virtual Gaming Platform with Trading Knowledge| ManiTech.in

They also offer price every month to top traders, which is cool

Below video shows how to navigate, place buy and sell orders in the virtual commodity trading portal